I owe my early success as an investor not to brains or knowledge, because my mind was untrained and my ignorance was colossal, The game taught me the game, And didn’t spare the rod while teaching.
Whenever I have lost money in the stock market I have always considered that I have learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. –Jessie Livermore
Mark Sellers and PRXI Value Trap
He put over 50% of his fund into MCF:
I added an update to yesterday’s micro-cap post. http://wp.me/p2OaYY-2tX. The point is to try and understand prior investment successes or failures. Any lessons there?
An excellent book on the inflationary 1970s The-Dollar-Crisis by Percy Greaves
I just like the old photos to capture the spirit of the times: The-Stock-Market-Crash-of-1929
I am still in shock over Brazil’s World Cup blow-out.
A fat tail event?